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TRANSCRIPT: President Trump Hosts Meeting Along With Elon Musk and DOGE

Read the full transcript of President Donald Trump’s cabinet meeting held at the White House on Wednesday, Feb 26, 2025.

Listen to the audio version here:

TRANSCRIPT:

Trump’s Cabinet Meeting at the White House

DONALD TRUMP: Thank you very much. We appreciate you being here, and we put together a great cabinet. We’ve had tremendous success, and we’ve been given a lot of credit for having a very successful first month. And we want to make that many months and years, actually.

We’re going to have many good months, and we’re going to have many good years, I hope, and we’re going to solve a lot of problems. We’re doing very well with Russia, Ukraine. President Zelenskyy is going to be coming on Friday. That’s now confirmed, and we’re going to be signing an agreement, which will be a very big agreement. I want to thank Howard and Scott for the job you guys did in putting it together.

Really did an amazing job. And that’ll be on rare earth and other things. As you know, we’re in for probably $350 billion dollars. Europe is in for $100 billion dollars and that’s a big difference. So we’re in for probably 3x as much and yet it’s very important to everybody, but Europe is very close. We have a big ocean separating us.

So it’s very important for Europe and they hopefully will step up and do maybe more than they’re doing and maybe a lot more. The previous administration put us in a very bad position, but we’ve been able to make a deal where we’re going to get our money back, and we’re going to get a lot of money in the future. I think that’s appropriate because we have taxpayers that shouldn’t be footing the bill, and they shouldn’t be footing the bill at more than the Europeans are paying. So, it’s all been worked out. We’re happy about it.

And most importantly, by far, we’re going to make a deal with Russia and Ukraine to stop killing people. They’ll stop killing young Russian soldiers and young Ukrainian soldiers and other people in the towns and cities. We will consider that a very important thing and a big accomplishment because it was going nowhere until this administration came in. They hadn’t spoken to President Putin in two years.

So we’ll keep you advised. Before we begin the cabinet, I’d like to have Scott, and a couple of people say a few things. But most importantly, where are you? Right. Is a gentleman who’s going places ahead of HUD, and he’s going to say, you all know him.

And you’re going to say grace, and then we’ll have our meeting. Right? Thank you very much.

Opening Prayer

[SCOTT TURNER:] Thank you, Mr. President. Let’s pray.

Father, we thank you for this awesome privilege to be in your presence. God, thank you that you’ve allowed us to see this day. The Bible says that your mercies are new every morning. And Father God, we give you the glory and honor. Thank you, God, for President Trump, for appointing us.

Father God, thank you for anointing us to do this job. Father, we pray, you’ll give the president and the vice president wisdom as they lead. Father, I pray for all of my colleagues that are here around the table and in this room. Lord God, we pray that we would lead with a righteous clarity, that as we serve the people of this country and every perspective agency, every job that we have. Father, we would humble ourselves before you, and we would lead in a manner that you called us to lead and to serve.

Father, the Bible says, blessed is a nation whose God is the Lord. Well, Father, we today honor you. And in your right place, Father, thank you for giving us this opportunity to restore faith in this country and be a blessing to the people of America. And, Lord God, today in our meeting, we pray that you will be glorified in our conversation. In Jesus’ name, amen.

[PRESIDENT TRUMP:] Scott, that was a very good job you did. You’ve done that before. Scott Turner is a terrific young guy. He’s heading up HUD, and he’s going to make us all very proud. Right?

[SCOTT TURNER:] Thank you, Mr. President. Thank you very much.

Administration Achievements

[PRESIDENT TRUMP:] Great job. In just over one month, illegal border crossings have plummeted by numbers that nobody’s actually ever seen before. It’s much more than a hundred percent.

And we’ve unleashed American energy at levels that will soon be reported, but we think we’re going to get it going very quickly. We have incredible people on the energy front. I think we have really great people on every front. I’ll let you know they’re not good, but I think they really are. And we’re fighting every day to get the prices down.

The inflation is stopping slowly, but part of the reason it’s stopping is because of high interest rates and other problems that we inherited. But we have to get the prices down, not the inflation down. The prices of eggs and various other things. Eggs are a disaster. The Secretary of Agriculture is going to be showing you a chart that’s actually mind boggling what’s happened, how low they were with us and how high they are now.

But I think we can do something about it, Madam Secretary, and I think you’re going to do a fantastic job in that position.

The DOGE Initiative

One of the most important initiatives is DOGE, and we have got billions and billions and billions of dollars. We’re looking to get it maybe to one trillion dollars. If we can do that, we’re going to start getting to be at a point where we can think in terms of balancing budgets, believe it or not, something you haven’t heard in many, many years, decades actually.

And it’s a big whether it’s this year or next year, I think we’ll be very close to balancing budgets, and the DOGE is very important.